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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/banks-must-reassure-society-fsa.jpg"><img class="alignnone size-full" title="Chairman of the FSA Lord Adair Turner has called on the banks to 'reassure society'" src="http://londonglossy.com/wp-content/uploads/2011/01/min-banks-must-reassure-society-fsa.jpg" alt="Chairman of the FSA Lord Adair Turner has called on the banks to 'reassure society'"/></a></p>
<p>Society needs assurances from British banks that a financial collapse will never happen again, the chairman of the City regulator has warned.</p>
<p>In an interview with The Sunday Telegraph, Lord Adair Turner, the chairman of the Financial Services Authority (FSA), said there was more regulation ahead.</p>
<p>But Lord Turner added that work to resolve how banks could fail without bringing down the whole sector and needing taxpayers&#8217; money was still ongoing.</p>
<p>Elsewhere in the banking industry, it emerged City analysts are expecting Britain&#8217;s top four banks to unveil a 13% or £2.5 billion jump in their combined profits to £24 billion year-on-year in a sign the sector is on the mend.</p>
<p>At the World Economic Forum in Davos, Lord Turner told The Sunday Telegraph that threats that London&#8217;s banks would move to Singapore or Hong Kong because of over-regulation in the UK were a &#8220;fantasy&#8221;.</p>
<p>He said: &#8220;I think the idea that people are going to go off to Hong Kong or Singapore or Brazil to escape our capital and liquidity regimes is a complete fantasy.</p>
<p>&#8220;I think the industry needs to recognise that society wants to be assured that measures that have been taken are robust enough to prevent this terrible crisis ever happening again.&#8221;</p>
<p>Lord Turner called for a push for more regulation in the so-called shadow banking sector &#8211; such as investment banks and hedge funds &#8211; after fears were raised over banks&#8217; more risky activities.</p>
<p>Pressure on the banking sector continues to rise as senior politicians call for restraint on bonuses and a Government-commissioned inquiry said moves to split retail and investment banking operations were being considered.</p>
<p>Meanwhile, analysts at investment bank Nomura forecast a strong improvement in British banks&#8217; performance compared with 2009.</p>
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